Cabela’s Inc. (CAB) Lifted to “Hold” at Zacks Investment Research
Cabela’s Inc. (NYSE:CAB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Cabela’s multi-channel model, next-generation stores and cost-saving initiatives continue to bode well. The cost-saving endeavors include an improvement in IT process, optimum utilization of retail labor, indirect procurement, merchandise sourcing along with retail support functions and supply chain efficiencies. Management envisions 2016 earnings per share to grow in the range of high-single-digits or low-double-digits in comparison with adjusted earnings per share of $2.88 in 2015. However, stiff competition and cannibalization remain threats, as these may dent results. Cabela’s succumbed to a negative earnings surprise in the second quarter, after delivering back to back earnings beat, with the merchandise gross margin contracting year over year – partly accountable to softness in the apparel category.”
CAB has been the topic of a number of other reports. Vetr raised shares of Cabela’s from a “sell” rating to a “hold” rating and set a $60.73 price objective on the stock in a research note on Monday, October 10th. Feltl & Co. lowered shares of Cabela’s from a “buy” rating to a “hold” rating in a research note on Monday, October 3rd. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $77.00 price objective on shares of Cabela’s in a research note on Wednesday, October 5th. MKM Partners reiterated a “buy” rating and issued a $56.00 target price on shares of Cabela’s in a report on Wednesday, June 29th. Finally, Credit Suisse Group AG reiterated a “hold” rating and issued a $38.00 target price on shares of Cabela’s in a report on Tuesday, July 26th. Eighteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $54.38.
Cabela’s (NYSE:CAB) traded up 0.18% during mid-day trading on Monday, reaching $62.01. 378,855 shares of the company’s stock were exchanged. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 23.52 and a beta of 0.96. Cabela’s has a 52-week low of $33.03 and a 52-week high of $63.60. The company has a 50-day moving average of $53.63 and a 200-day moving average of $51.28.
Cabela’s (NYSE:CAB) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by $0.03. Cabela’s had a net margin of 4.44% and a return on equity of 11.16%. The business earned $929.90 million during the quarter, compared to the consensus estimate of $905.42 million. During the same period last year, the business posted $0.56 earnings per share. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. Equities research analysts anticipate that Cabela’s will post $3.17 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of CAB. First Republic Investment Management Inc. raised its position in Cabela’s by 111.2% in the first quarter. First Republic Investment Management Inc. now owns 16,176 shares of the company’s stock worth $787,000 after buying an additional 8,518 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in Cabela’s by 492.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 60,000 shares of the company’s stock worth $2,921,000 after buying an additional 49,868 shares during the period. Squarepoint Ops LLC purchased a new position in Cabela’s during the first quarter worth approximately $675,000. Seven Eight Capital LLC purchased a new position in Cabela’s during the first quarter worth approximately $222,000. Finally, Elliott Management Corp raised its position in Cabela’s by 45.2% in the first quarter. Elliott Management Corp now owns 6,046,496 shares of the company’s stock worth $294,404,000 after buying an additional 1,881,496 shares during the period. Hedge funds and other institutional investors own 68.38% of the company’s stock.
Cabela’s Company Profile
Cabela’s Incorporated is a specialty retailer and a direct marketer of hunting, fishing, camping and related outdoor merchandise. The Company offers national and regional brand products, including its Cabela’s brand. The Company’s segments include Retail, Direct, Financial Services, and Corporate Overhead and Other.
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